INVESTMENT

Sooner or later, income taxes on upper-income groups in the United States, including the uber-rich, have to be raised to balance the federal budget, and to restore tax fairness.

In anticipation of a split into a North American grocery company and a global snacks company by the end of 2012, Kraft Foods Inc. appointed two chief executive officers Monday to lead each of the two companies.

Europe's largest bank is facing a record fine of 10.5 million pounds ($16.4 million) for inappropriately advising over 2,000 elderly customers about bond investment between 2005 and 2010.The bank is also likely to pay another 29.3 million pounds in compensation to victims, according to Reuters.

Break out the bubbly, Michael Kors is going public, with an IPO valued at $3.6 billion.

A Chinese bank is in talks about taking a stake in Saab, in the latest attempt to rescue the crisis-hit Swedish car maker after an earlier deal to secure its future ran into trouble.

The economy showed signs it was decelerating, with an index of service activity pointing to slower growth in November while new orders for factory goods declined in October for the second straight month.

Stocks rallied more than one percent on Monday, building on the previous week's gains, as optimism grew an agreement between French and German leaders would break new ground to resolve the Eurozone debt crisis.

Britain will promote use of new medicines and has earmarked 180 million pounds ($280 million) to bring modern technologies to market under a package of reforms designed to make the country more attractive to big pharmaceuticals companies.

Dozens of adult stem cell treatments are moving through clinical trials and showing early success, raising hopes that some could reach the market within five years.

Peruvian President Ollanta Humala declared a state of emergency late on Sunday to quell protests against Newmont Mining's $4.8 billion Conga gold mine project that have hobbled the region of Cajamarca for 11 days.

India may face its worst financial crisis in decades if it fails to stem a slide in the rupee, leaving the Reserve Bank of India with a difficult choice over how to make best use of its limited reserves to maintain the confidence of foreign investors.

Citing people familiar with the matter, The Wall Street Journal said the new Lehman board will be made up of seven experts in restructuring, real estate and derivatives but they don't have ties with Lehman. They'll reportedly oversee liquidation of billions of dollars in assets so that money can be dispensed among Lehman's many creditors.

Gold prices barely moved Monday, as weak physical buying and easing investor interest offset anticipation of good economic news from the U.S. and hope that this week's big European meeting aimed at solving the debt crisis will not disappoint.

Stock index futures pointed to a higher open for equities on Wall Street on Monday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 up 0.8-0.9 percent.

China's entry into the World Trade Organization and its development over the last 10 years has contributed to global prosperity, according to former WTO Director David Hartridge.

A rogue surgeon injects stem cells from a fetus into a sick man's brain. The cells morph and form body parts. When the man dies, the pathologist finds cartilage, skin and bone clumped in his brain.

An investigative panel has found Japan's disgraced Olympus Corp hid up to $1.67 billion in losses from its investors, but stops short of recommending criminal charges against executives involved in the cover-up, a source said on Monday.

India has put a plan to open its retail industry to foreign supermarkets on hold, a senior government source said Sunday, an embarrassing turnaround for a beleaguered government fighting to retain the support of key allies.

The spectacular bull run in gold prices is unlikely to end soon, with bullion retaining its appeal in 2012 due to the uncertain global economy.

Iraqis are wary on how their country will fare once the Americans leave. The Americans are seen as an occupying force by many, but welcomed by others who believe they act as a buffer amid the country's still-volatile sectarian mix.

Regulators investigating the collapse of MF Global have determined that the firm combined money between securities and futures accounts owned by customers, and transferred funds outside the country to at least one entity, a source said on Friday.